Danske Bank A S purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 96,687 shares of the company's stock, valued at approximately $17,704,000.
Several other large investors have also added to or reduced their stakes in LYV. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company's stock valued at $1,692,151,000 after purchasing an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP raised its stake in Live Nation Entertainment by 3.5% in the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company's stock worth $817,055,000 after buying an additional 193,104 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock worth $610,707,000 after buying an additional 20,165 shares during the period. Jericho Capital Asset Management L.P. lifted its holdings in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock worth $569,503,000 after buying an additional 1,099,350 shares during the period. Finally, Cantillon Capital Management LLC boosted its position in Live Nation Entertainment by 0.8% during the 4th quarter. Cantillon Capital Management LLC now owns 2,797,205 shares of the company's stock valued at $398,602,000 after acquiring an additional 21,246 shares in the last quarter. Institutional investors own 74.52% of the company's stock.
Live Nation Entertainment Stock Performance
Shares of LYV opened at $181.79 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock has a market cap of $42.84 billion, a P/E ratio of -160.88 and a beta of 1.12. The business's 50 day moving average price is $180.00 and its 200-day moving average price is $166.20. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently issued reports on LYV shares. Guggenheim increased their target price on Live Nation Entertainment from $197.00 to $218.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. UBS Group lifted their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $205.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 31st. BTIG Research reissued a "buy" rating and set a $215.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Finally, Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $197.19.
Read Our Latest Stock Analysis on LYV
About Live Nation Entertainment
(
Free Report)
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.
See Also
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